PAX Global Technology Cash Flow Statement

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	753.59	713.43	1,155	1,265	1,084
Depreciation & Amortization	112.37	98.04	65.65	63.38	68.38
Loss (Gain) From Sale of Assets	0.65	0.26	-14.87	0.45	0.03
Loss (Gain) From Sale of Investments	24.81	-3.26	4.42	-0.91	-28.88
Loss (Gain) on Equity Investments	1.9	-10.64	-4.97	-7.42	-3.45
Stock-Based Compensation	-	31.67	-	-	13.67
Other Operating Activities	298.59	-5.35	-144.93	-26.32	-39.18
Change in Accounts Receivable	-221.08	104.25	-350.46	-355.03	-682.44
Change in Inventory	40.1	188.64	630.01	-643.41	-416.16
Change in Accounts Payable	307.01	53.55	-849.47	349.5	358.73
Change in Other Net Operating Assets	-13.42	-7.89	-0.52	3.61	-6.82
Operating Cash Flow	1,305	1,163	490.02	648.53	347.66
Operating Cash Flow Growth	12.20%	137.28%	-24.44%	86.54%	-52.70%
Capital Expenditures	-48.67	-126.88	-213	-330.61	-344.87
Sale of Property, Plant & Equipment	1.81	-	-	-	-
Cash Acquisitions	-	-25.46	-	-	-
Sale (Purchase) of Intangibles	-14.74	-	-	-	-
Investment in Securities	22.86	-160.05	4.05	2.01	70.3
Other Investing Activities	12.61	-23.36	36.73	28.58	39.8
Investing Cash Flow	-26.14	-335.75	-172.21	-300.02	-234.77
Long-Term Debt Repaid	-17.61	-19.83	-24.84	-31.77	-33.86
Total Debt Repaid	-17.61	-19.83	-24.84	-31.77	-33.86
Net Debt Issued (Repaid)	-17.61	-19.83	-24.84	-31.77	-33.86
Issuance of Common Stock	4.57	8.15	13.83	5.3	34.62
Repurchase of Common Stock	-9.9	-57.15	-84.73	-69.44	-86.96
Common Dividends Paid	-529.86	-501.3	-430.19	-345.32	-350.86
Other Financing Activities	-	-0.31	-	-7.94	-11.08
Financing Cash Flow	-552.8	-570.45	-525.92	-449.17	-448.14
Foreign Exchange Rate Adjustments	98.08	-36.49	-88.52	-272.06	65.46
Net Cash Flow	823.65	220	-296.64	-372.72	-269.79
Free Cash Flow	1,256	1,036	277.02	317.92	2.79
Free Cash Flow Growth	21.24%	273.92%	-12.87%	11294.91%	-99.59%
Free Cash Flow Margin	21.39%	17.14%	4.13%	3.94%	0.04%
Free Cash Flow Per Share	1.17	0.95	0.25	0.29	0.00
Cash Interest Paid	3.97	5.56	5.38	5.65	6.98
Cash Income Tax Paid	44.1	148.68	247.67	196.98	208.19
Levered Free Cash Flow	950.51	845.34	-69.32	119.28	-328.85
Unlevered Free Cash Flow	952.99	848.82	-69.32	122.81	-324.69
Change in Working Capital	112.61	338.55	-570.44	-645.33	-746.69

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.